Fall River, MA – MassDevelopment has issued $24.5 million in tax-exempt bonds for Atlantis Charter School in Fall River.
Atlantis Charter School
The school is using bond proceeds to build, furnish, and equip a 98,000sf, three-story building that will house classrooms, a gymnasium, administrative offices, and common areas. Atlantis Charter School is also using bond proceeds to build and equip an outdoor athletic field.
MassDevelopment enhanced the financing with a charter school loan guarantee. The Washington Trust Company of Westerly and BayCoast Bank purchased the bonds, and HJ Sims advised the school on financing.
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Atlantis Charter School serves nearly 1,400 students from kindergarten through 12th grade. The school added ninth grade in fiscal year 2015 and is adding one grade per year through fiscal year 2018. As of April 2017, the school had more than 500 students on its waiting list.
Atlantis Charter School’s new campus was designed in collaboration with higher education and industry partners. In addition to a rigorous college-preparatory curriculum, the Upper School building will also include five school-to-career academies, which were developed in consultation with area colleges and universities, public and private institutions, as well as local community members and parents.
The academies include business and entrepreneurship; STEM; arts, culture, and design; teacher development; and health, med-tech, and sports medicine.
